SARAJEVO (Bosnia and Herzegovina), December 13 (SeeNews) – The Federation of Bosnia and Herzegovina will auction 6-month Treasury bills, 3-year and 5-yr T-bonds with a combined value of 150 million marka ($81.5 million/76.7 million euro) later this month to plug budget holes, the entity's finance ministry said on Tuesday.
The entity will auction 50 million marka in 6-month bills, with a nominal value of 10,000 marka each, on December 22, the finance ministry said in a bourse filing.
The six-month government papers will mature on June 23, 2017.
The entity will also auction 40 million marka in three-year bills on December 27. The bills carry a nominal value of 1,000 marka and will mature on December 28, 2019.
The 60 million marka five-year bond auction will be held on December 20. The bonds will have a nominal value of 1,000 marka each and will mature on December 21, 2021.
On December 6, the Federation sold 5 million marka in six-month Treasury bills on the Sarajevo Stock Exchange, well below target, with a yield of 1.15%.
Both of Bosnia's entities - the Federation and the Serb Republic - have been holding back-to-back auctions of Treasury notes in order to make up for the lack of funding from the International Monetary Fund, which has conditioned the release of its next loan tranche on a set of reforms.
Bosnia is set to receive some $63.41 million (about 80 million euro) in the first quarter of 2017, if the IMF is satisfied with the country's reform progress. Bosnia and Herzegovina’s 36-month Extended Fund Facility arrangement was approved on September 7, 2016.
(1 euro=1.95583 marka)